Tag: Catalyst

Dell Technologies Research: GenAI a catalyst for innovation yet Irish firms struggle to keep pace with change

Generative AI (GenAI) and AI will significantly transform industries in Ireland, according to 70% of respondents to the Dell Technologies Innovation Catalyst Research.

Based on responses from 6,600 IT and business decision makers across 40 countries including 100 in Ireland, the research suggests that while there is broad optimism for AI and GenAI, the extent to which organisations are prepared for the rapid pace of change varies greatly.

71% say they are well positioned competitively and have a solid strategy in place to harness the power of AI. Moreover, nine in 10 (92%) think organisations can use GenAI responsibly.

At the same time, over half (56%) of the respondents are uncertain what their industry will look like in the next three to five years and forty-nine percent report struggling to keep pace with advancements in GenAI and other technologies. They cite the lack of the right talent (43%), lack of budget (33%) and an outdated technology environment (32%) as challenges they face in driving innovation.

To help overcome some of the challenges, fifty-nine percent of organisations are training or upskilling employees to use GenAI while six in 10 (62%) are providing AI-optimised technology to improve the work experience.

GenAI Moving from Ideation to Implementation

Respondents cite GenAI’s transformative or significant potential to deliver value in improving IT security posture (48%), enhancing the customer experience (47%) and unlocking productivity gains (42%).

More broadly, responses suggest that organisations are working through GenAI practicalities as they transition from ideation to implementation, with 75% saying they have begun implementing GenAI. As organisations increase adoption, concern centres around understanding where risks reside and who is responsible for them. Sixty-six percent agree that the organisation, rather than the machine, the user or the public, is responsible for any AI malfunction or undesired behaviour. 

Catherine Doyle, Managing Director at Dell Technologies Ireland, said: “In today’s rapidly evolving landscape, the power of Generative AI and other emerging technologies cannot be understated. Our research underscores the transformative potential of GenAI to drive innovation in every industry across Ireland. Businesses are now harnessing the power of AI to unlock the value hidden within their data, propelling growth and driving innovation forward.

“However, it’s clear that while optimism abounds, many organisations are struggling to keep pace with rapid advancements in technology. It’s vital for leaders to not only recognise the potential of GenAI but also to act swiftly in using its potential to turn ideas into tangible innovation. By leveraging the capabilities of Generative AI and investing in the right technology infrastructure, businesses can position themselves for success in this era of unprecedented change.”

The Right Technology Infrastructure will help Organisations to Succeed

The research also reveals modern data infrastructure’s critical role as technologies like GenAI gather pace and data volumes increase. Investing in a modern, scalable infrastructure was cited as the number one area of improvement for businesses to accelerate innovation. Most IT decision makers (66%) say they prefer an on-prem or hybrid model, to address the challenges they foresee with implementing GenAI.

The ability to share data across the business is also a key part of the innovation puzzle, with only 1 in 3 (33%) saying they can turn data into real-time insights today to support innovation efforts. Moreover, 95% face data management challenges. However, responses suggest organisations are acting on this challenge, with 64% saying that data is the differentiator and their GenAI strategy must involve using and protecting that data.

Key Catalyst Propelling Bitcoin’s 2023 Peak

Bitcoin’s remarkable ascent in 2023 can be traced to various intertwined factors. From economic shifts and technological advancements to societal and cultural changes, the cryptocurrency’s journey reflects our evolving global landscape. While various factors have contributed to Bitcoin’s peak in 2023, platforms like Bitcoin Bot App offer traders advanced tools for online trading.

Economic Factors Driving Bitcoin’s Surge

Bitcoin’s ascendancy in 2023 has been largely attributed to a myriad of economic factors that have converged to bolster its appeal. One of the most pressing concerns driving individuals towards cryptocurrencies like Bitcoin has been the global financial instabilities observed in various parts of the world. As countries grapple with economic downturns, many are searching for alternative assets that offer a refuge from traditional financial systems. 

Another crucial factor that can’t be understated is the role of central banks and their policies. With rampant quantitative easing seen in multiple economies, there’s a growing apprehension about potential inflation and the devaluation of fiat currencies. Bitcoin, with its capped supply, presents itself as a deflationary asset, a quality that’s particularly appealing for those concerned about the erosion of their wealth due to inflation.

Moreover, the year 2023 has marked a significant shift in the stance of traditional institutional investors towards Bitcoin. These institutions, which once viewed cryptocurrencies with skepticism, have begun to see Bitcoin as a legitimate asset class. The narrative of Bitcoin as a “digital gold” has gained traction, not just among individual investors but also among hedge funds, asset managers, and other financial institutions. 

The surge in Bitcoin’s popularity and value in 2023 can be traced back to a combination of global financial uncertainties, central banking policies, and a paradigm shift in how institutional investors perceive the leading cryptocurrency. As these economic factors intertwine, they form a potent catalyst propelling Bitcoin to its remarkable peaks.

Technological Catalysts

The early days of Bitcoin were fraught with concerns about its scalability. Transactions were slow, and as adoption grew, the network often became congested, leading to higher transaction fees. The introduction and adoption of the Lightning Network emerged as a game-changer in this scenario. This off-chain solution allowed for faster and more efficient Bitcoin transactions, facilitating micro-transactions and significantly reducing fees. By ensuring that Bitcoin could scale to meet increasing demand without compromising on its decentralized ethos, the Lightning Network played an instrumental role in making the cryptocurrency more usable for daily transactions and small-scale transfers.

Parallel to scalability solutions, there have been significant strides in ensuring the cryptographic security of the Bitcoin network. Bitcoin’s security rests on the robustness of SHA-256, a cryptographic hash function that has so far proven resilient. However, with the looming advent of quantum computing and its potential to disrupt traditional cryptographic methods, there’s been a push to fortify Bitcoin against these future threats. Innovations and research in this area have bolstered confidence in Bitcoin’s long-term security profile, assuaging fears of potential vulnerabilities.

In essence, the technological catalysts underpinning Bitcoin’s 2023 ascent can be seen as a blend of innovative solutions to its inherent challenges and proactive measures to secure its future. By addressing both current and anticipated issues, the Bitcoin community and developers have showcased a commitment to evolution and adaptability, vital attributes for any technology aiming for longevity and widespread adoption.

Societal and Cultural Shifts

As Bitcoin’s trajectory soared in 2023, it wasn’t just the economic or technological drivers at play. An equally significant force was the evolving societal and cultural perception surrounding cryptocurrencies, particularly Bitcoin. Over the past few years, mainstream acceptance of Bitcoin has grown exponentially. It is no longer confined to the niches of the tech-savvy or financial speculators. 

Another manifestation of Bitcoin’s growing cultural imprint is its increasing visibility in the realm of pop culture. Celebrities, influencers, and renowned personalities have openly endorsed or shown interest in Bitcoin, further elevating its status in the public eye. Their influence, combined with an increasing number of TV shows, movies, and music referencing Bitcoin, has contributed to a more significant societal acknowledgment and intrigue.

However, beyond the confines of the western world and developed nations, Bitcoin has been making waves in a different manner. In emerging markets, Bitcoin has become a beacon of financial inclusion. In countries like Venezuela and Nigeria, where local currencies have faced severe devaluation or where access to traditional banking is limited, Bitcoin has provided an alternative financial avenue. For many in these regions, Bitcoin isn’t just an investment; it’s a means to navigate economic hardships, send remittances, and preserve wealth.

Conclusion

Bitcoin’s 2023 peak is a culmination of economic, technological, and cultural synergies. As the world grapples with these multifaceted influences, Bitcoin’s prominence underscores a transformative phase in our financial narrative.

Catalyst Announces 100 New Jobs Across European Offices, Expands Presence in Ireland, UK, Italy, and Spain

Dublin-based Catalyst (formerly known as i3PT), a leading global provider of software and professional services to the construction and real estate industries,  today announced the creation of 100 new jobs across its European operations. 50% of the new jobs will be based in Ireland

With this expansion, Catalyst is committed to delivering cutting-edge services and fostering international growth in Ireland, the United Kingdom, Italy, and Spain. Furthermore, Catalyst has plans to establish additional locations in the United States for its obi®️ software business.

The creation of these new positions comes in response to Catalyst’s strong growth and increasing demand for its industry-leading services. The company’s expertise in ESG, technical advisory services and digital technologies has positioned Catalyst as a trusted partner for some of the world’s largest companies and real estate investors. The 100 new jobs will principally be distributed across Catalyst’s European offices, with significant employment opportunities arising across Ireland, London, Edinburgh, Milan, and Barcelona, amongst other new locations. These roles will span various departments, including engineering, software development, marketing, and sales.

Eoin Leonard, CEO of Catalyst, expressed his gratitude to Enterprise Ireland for their unwavering support and invaluable assistance in the company’s expansion. Leonard stated, “We are thrilled to announce the creation of 100 new jobs across our business. This expansion reflects our continued growth and the increasing demand for services and software. We want to extend our deep appreciation to Enterprise Ireland for their ongoing support, guidance, and assistance in our journey to develop a thriving international business.”.

Jenny Melia, Executive Director at Enterprise Ireland said: “Catalyst is a great example of an Irish company that has gone from strength-to-strength, growing both at home and internationally. Today’s announcement of 100 new jobs at Catalyst is testament to the ambition and capabilities of the team. At Enterprise Ireland, we are committed to supporting Irish companies to compete and win in international markets, and we look forward to continuing to support Eoin and the team on their growth trajectory.” Catalyst’s expansion marks an exciting milestone in the company’s journey towards becoming a global leader in the real estate and construction sectors. As regulatory shifts drive change towards better practices, Catalyst aims to assist its clients in creating a greener, safer built environment.